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8222 Douglas Avenue, Dallas...

Pillar Commercial Acquires Office In Dallas From Chris Murphy, Robert Hill, Gary Carr & Chase Tagen
SOLDOffice

Pillar Commercial Acquires Office In Dallas From Chris Murphy, Robert Hill, Gary Carr & Chase Tagen

8222 Douglas Avenue, Dallas, TX 75225

Building Size

76,741 SF

Asset Type

Office

Closing

Jan 21, 2022

AI

8222 Douglas Avenue, a 76,741 square foot office property located in Dallas, was recently sold. The transaction took place on January 21, 2022. The buyer, Pillar Commercial, acquired the asset in the Dallas market.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: Not specified
  • Date: 01/21/2022
  • Address: 8222 Douglas Avenue
  • Market: Dallas
  • Square Footage: 76,741

Chris Murphy, Robert Hill, Gary Carr, and Chase Tagen from Newmark represented Pillar Commercial as brokers in this transaction. The lender involved in the deal was CommunityBank of Texas.

Players

Gary Carr

Newmark

Broker

$352.5M

vol

33 deals

Broker
PC
Pillar CommercialBuyer

Dallas Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93